Janjuah forecasts a near-term rally in the stock market. He
had two main reasons.

"Sentiment has gotten very, very bearish," he said.
"Sentiment is at an extreme."

But more bullish than that is the bearish sentiment toward
Greece.

"There seems to be an expectation that Greece is suddenly going
to exit the euro next week," he said. "It seems to us that
this is not correct."

Janjuah didn't say specifically how much higher this would send
stocks.

The Bad
News

Janjuah notes that there will be more dovish signaling and
monetary easing from the world's central banks. He thinks
we'll eventually get a new "Operation Twist" type program from
the Federal Reserve and some sort of deposit insurance scheme
from the European Central Bank (ECB).

Again, these are bullish stock market drivers in the
near-term. But they will also be the cause of the stock
market collapse.

"None of these fixes are really fixes," he said.

Once the jig is up, stocks will tumble. Janjuah thinks
stock could fall all the way to 1,000 by the end of the year.